HSBC believes Emami shares can touch Rs 1,500. (Express Photo)
Share price of Emami jumped as much as 6.25 per cent on Thursday on reports that FTSE upgrades Emami to the midcap segment of the FTSE global equity index series coupled with HSBC on Monday initiated coverage of Emami Stocks with a “buy” rating.
At 12.24 pm, Emami was trading 3.43 per cent higher at Rs 1,259. It opened at Rs 1240 and had touched a high and low of Rs 1293.45 and Rs 1,240, respectively, in trade so far. Sensex was up 0.83 per cent at 25,664.
The share price of the company jumped 3.5 per cent at Rs 1217.30 on Wednesday.
HSBC believes Emami shares can touch Rs 1,500. Says Emami’s core brands Navratna, Zandu, Fair & Handsome and Boroplus dominate their market segments; growth story isn’t fully priced into the stock.
Adds Emami trades at 8 per cent discount to industry leader Hindustan Unilever.
According to Eikon data, out of 26 analysts covering the stock, 5 have a strong buy, 7 have a buy, 9 have a hold and 5 have a sell rating on the Emami stocks.
(With inputs from Reuters)
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